Frequently Asked Questions

Basic information

What does AppCoins stand for and what is it?

AppCoins is an open and distributed protocol for app stores. It proposes to move to the blockchain three of the most critical flows of app stores: advertising, in-app purchases and developer’s approval. By redesigning the transactions inside an app store, creates efficiencies by disintermediation and redistributes the value released in a way that create incentives for the AppCoins supported stores dissemination.

A cryptocurrency will be created to enable transactions based on the AppCoins protocol: AppCoin Tokens.

What is an AppCoin Token?

AppCoin tokens (“APPC Tokens”) are ERC-20 compatible tokens distributed on the Ethereum blockchain pursuant to a related ERC-20 smart contract. AppCoins is meant for use in the AppCoins blockchain platform to perform transactions in the app store ecosystem.

What can end users do differently with AppCoins, in comparison to iTunes and Play Store?

AppCoins will be the only payment method used by app stores that in the future support the protocol. With AppCoins, the end user will be able to do the following processes that they would not be able to do with current app store payment systems:

P2P transfers: You can easily send AppCoins to your friends, if they are unable to buy AppCoins. For example, in a group of teenagers, only one has credit card - The user with credit card can buy AppCoins, the others transfer back in FIAT currency, and the user transfers the AppCoins directly to the friends.

Same currency, across multiple app stores: you can use AppCoins across all the app stores that support it.

Liquidity: You can buy or sell your AppCoins through exchanges. The virtual currency in some app stores (e.g. Amazon gold) cannot be sold, only bought.

Earn coins: If a user clicks in an Ad, installs the app and gives two minutes of attention, he/she can earn coins to spend inside apps and games.

What can AppCoins be used for?

AppCoin tokens can be used to obtain services on any app store that supports the AppCoins protocol as well as to reward users. Some examples:

Developers can invest on advertising to promote their apps;

Users can be rewarded with AppCoins by installing and using sponsored apps;

Developers can sell and users can buy digital goods using in-app billing;

After the ICO, how do I buy AppCoins tokens and how do I store them?

AppCoins can be purchased in selected exchange platforms or peer-to-peer from AppCoin owners. AppCoins shall be transferred and stored in a wallet.

Which wallets can be used to store AppCoins?

AppCoins is an ERC20 token, and can be stored in any ERC20 compatible wallet. We do not recommend a particular product, but some users report storing their AppCoins using MyEtherWallet or imToken.

What are the ERC20 compatible wallets?

To participate in the AppCoins token ICO sale you will need a wallet that is smart contract compatible. Please do not send your token directly from any cryptocurrency exchanges. You need a token compatible Ethereum wallet.

The following wallets are known to be compatible with Ethereum tokens (ERC-20 standard):

MyEtherWallet (no download needed)

MetaMask (Firefox and Chrome browser addon)

Mist (Desktop)

Parity (Desktop)

Parity + Ledger (Hardware wallet)

imToken (iPhone)

imToken (Android)

Where does the value come from?

Because AppCoins is blockchain-based, and the AppCoin tokens are ERC20 based, they can be traded from and to cryptocurrencies like Bitcoin or Ethereum and to fiat currencies. People can freely buy and sell these tokens, and many hold in anticipation of increased purchasing power for various AppCoins related services.

Can I transfer APPC from my wallet to a peer’s wallet?

You need to store the APPC tokens in ERC20 compliant wallets. With these you can transfer AppCoins back and forth to your peers.

To support its development, after the initial implementation performed by Aptoide and continuous innovation;

To promote the global AppCoins adoption among app stores, users and developers and among other key strategic entities for the scaling up of the ecosystem like OEMs, Governments or Telcos.

What app stores support AppCoins?

Currently Aptoide (200 million users) supports AppCoins Protocol. In the future, other app stores can benefit also from it: Amazon App Store (~55 million users), Yandex (37 million users), CaffeeBazaar (60 million users), 9 Apps (70 million users). Number of users is an estimation from public information, Google trends and size of the markets. All of the app stores have benefits in adopting a standard, the reason being the inefficiencies of in-app purchases monetization from the developers.

What is the company behind the issuing of the tokens and where is it located?

Aptoide PTE is the legal entity responsible for issuing the tokens. Aptoide PTE was incorporated in 2015, is located in Singapore and operates under Singaporean jurisdiction. Its registration number is 201530350D and the address is 30 Cecil St, #19-08, Prudential Tower, Singapore 049712.

Does AppCoins ICO require KYC?

Yes, there will be two types of KYC. For investors under 5,000 USD there will be a light KYC process where personal information will be required, such as first and last name, gender, date of birth, nationality, country of residence, passport/national id number. For investors over 5,000 USD we will have a full KYC process where an additional scan of the passport or national ID card will be required.

Why do you require a KYC process?

The Know Your Client form is a standard form in the investment industry that ensures investment advisors know detailed information about their clients’ risk tolerance, investment knowledge and financial position. The aim of KYC is also to prevent theft, fraud, terrorist financing and money laundering. It helps us ensure that our clients are not involved in any of the above, hence the service provider won’t get in trouble with the regulators.

In addition, the AppCoins ICO is being issued from Singapore. The KYC / AML for larger investors is needed to be totally within the local regulations and laws.

AppCoins sale, distribution and fund use

How does ICO Work?

ICO (Initial coin offering) is a crowdfunding process where tokens – AppCoins - are purchased using cryptocurrencies. You can find more details about the ICO in our Crowdsale document.

Which cryptocurrencies are accepted during the sale?

Ethereum (ETH).

How can I participate in the AppCoins token distribution?

To participate in AppCoins token distribution, all you need is any Ethereum wallet compatible with ERC20 tokens. Please do not send ether (“ETH”) directly from cryptocurrency exchanges, use only an ETH and ERC20 compatible wallet.

What will the ICO be used for?

The ICO is the first step for the AppCoins platform launch. It will provide the necessary funds for the initial implementation and promotion of the platform and to its first release in 12 months.

What will be the token allocation?

During the crowdsale process there will be an allocation of a part of the total amount of AppCoin tokens. The remaining will be used later on to leverage the bootstrap phase of the AppCoins platform by rewarding users, developers and OEMs; to create the App Store Foundation; to reward key contributors to the ICO and the platform; and Aptoide for the initial support and contribution.

What is the cost of each APPC token?

The crowdsale smart contract locked the price of each APPC token as following:

1 APPC = 0.0003339 ETH

This calculation was done on November 3rd, 2017 at 11:00am UTC having a price of ETH at $299 USD. We can only recommend that you purchase ETH as soon as possible in case you don’t have it, to avoid higher investment costs in the future, since analysts predict a continuing rise in the value of ETH. It is natural that some potential investors may feel in disadvantage for paying more USD for the same amount of tokens than the investors of the pre-sale, where the ETH had less value.

However, if those pre-sale investors would keep the ETH instead of investing in APPC, they would have exactly the same amount of tokens, which means there was a cost of opportunity in buying APPC with ETH.

Is there a discount or a bonus during the AppCoins ICO?

There will be a 20% bonus in the first 7 days of the sale or until we sell 30% of tokens — whichever comes first — , to reward our first investors. This bonus is meant to reward the investors that decided to invest sooner than later.

Do we receive the actual tokens during the sale?

After validating your eligibility as a user to invest in AppCoins’ pre-sale, you will need to transfer the Ethers from your Ethereum wallet. The Ethers transfer cannot go over $5,000USD, which is the cap for small investors during the pre-sale. After transferring the Ethers, you will receive a confirmation email stating the amount transferred and the number of AppCoins you will be receiving. The AppCoins ERC20 Token will only be issued after the official sale, so you don’t receive them at the moment of the investment (pre-sale). After the sale ends, all pre-investors will automatically receive the tokens that they bought in their Ethereum wallet.

I’m not seeing the APPC tokens in my wallet. How can I add them?

If you see a N/A or ERC20 Token — and not APPC — you may have to set a custom token. Below you’ll find the info you’ll need to enter:

Address: 0x1a7a8bd9106f2b8d977e08582dc7d24c723ab0db

Decimals: 18

Token Symbol: APPC

What’s the maximum token supply?

The maximum token supply is 450 Million APPCs, however only 160 Million will be for sale.

I am an US citizen. Can I participate in the ICO?

The AppCoins ICO is a worldwide ICO and it’s open to everyone, however national laws apply. It’s up to the investors to check locally whether or not they can invest.

What happens to the tokens (if) which are left unsold?

The unsold tokens will be burned. In parallel, a proportional percentage of the Foundation, Aptoide, ICO Advisors & Team, and bootstrap will also be burned. This means that the hardcap is in reality $15.3M/60,120 ETH, and that value is corresponding to 40% of all tokens available.

How can I purchase via Coinbase?

It isn’t possible to puchase tokens from Coinbase, as it isn’t compatible with ERC20 tokens. So the procedure of purchasing ETH from Coinbase would be:

1. Buy ETH on Coinbase.

2. Transfer to a compatible wallet such as MyEtherWallet.

3. Send ETH from MEW to the deposit address as per the AppCoins website procedure.

On which exchange will AppCoins be listed?

It will be in the beginning of 2018. We’re still negotiating with the top-10 exchanges and should have more news about this until the end of the year. Our goal is to be exchanged at least in one top 5 exchange and in three tier 2 exchanges to assure maximum liquidity.

Can we transfer AppCoins immediately after purchase?

No, only after the ICO. The tokens are received but they are locked to avoid a parallel market and to preserve the value of the token. They will be unlocked a few days after the end of the sale, once we hit exchanges.

Is there a vesting period for team tokens?

Yes there will be a vesting period for the team tokens. The tokens distribution will have a cliff of one year and a vesting period of an additional year. So, the cliff period starts in the 1st of January 2018 and the first 20% of the tokens will be sent to you in the 1st of january of 2019 and the rest will be vested every quarter with the last 20% to be delivered in the 1st of January 2020.

AppCoins protocol in practice

In the future, how will the app store user be able to buy AppCoins?

A user that wants to buy AppCoins (eg: to top-up games) can use different methods to acquire those AppCoins:

Tokens can be bought through exchanges. Meetings with several exchanges are being held to that purpose and will be announced as soon as we have a list to share. These partnerships will ease token purchases and will avoid the use to insert duplicated KYC information and get liquidity in the exchange process.

A partnership with Kyber Network was signed, and therefore users will be able to use other tokens to convert into AppCoins “on the fly”.

Partnerships with pre-paid cards providers are being conducted to be able to provide pre-paid cards with AppCoins in countries in SEA (Indonesia, Malaysia,…) and South America (Mexico, Brazil…).

What problems does AppCoins solve?

AppCoins was created to solve the three main inefficiencies in the app economy which are (1) more transparency or trust, (2) Circular and efficiency, (3) shared with network effects.

I want to buy digital goods in a game but I don’t have a credit card. Can I use AppCoins?

Yes. You can earn AppCoins by installing sponsored games, ask a friend or relative to directly transfer you AppCoins and then use them to buy your digital goods in an app store with support for AppCoins like Aptoide.

How can I earn AppCoins by using an AppCoins-enabled app store?

If you want to do in-app purchases and you need to earn AppCoins for that purpose, there is a way. You will be rewarded for your willingness to try new apps that are being promoted by app developers. You spend time using these apps and you can earn 85% of the amount invested by the app developer to promote the app. This is based on a proof-of-attention defined in the AppCoins protocol.

How secure is AppCoins protocol and blockchain?

AppCoins’ security is accomplished by design. The blockchain that stores the transactional data ensures that it is protected by strong cryptography. You can feel safe whenever you see the AppCoins Compliant logo we are following a safe and private protocol.

Is the advertising traffic incentivized? If so, are the users considered low quality?

Some advertising traffic of CPAt could be considered incentivized. However, the AppCoins provided when a user installs a game, cannot be cashed out and only can be used in a game or an app. When properly integrated, incentivized traffic, especially rewarded ones, have a positive impact on the player's experience and can help developers monetize their games and increase player engagement. According to Unity Ads report, click-through rates for rewarded ads range between 20% and 35%, according to in-app monetization and user acquisition platform providers (Supersonic in their case). So, these stats show that rewarded ads may provide significant value for mobile game developers.

I am a developer and I want to know what is Cost-per-attention (CPAt) and how is it better than any other advertising model to promote my app?

CPAt is AppCoins’ advertising Solution, which converts in users’ attention. Not only it reduces fraud and intermediation, but it also guarantees that the users at least try the app, increasing the chances of retention. With AppCoins, 85% of your advertising investment is transferred to the users so that they can use it to purchase digital goods in mobile apps with IAB.

Being a top developer, do I still run a risk of losing market share and how does AppCoins help?

With AppCoins users have more financial power. Every time a user installs an app that is being advertised, they are awarded with AppCoins which they can spend inside the platform. This means that popular apps will have a massive boost in the revenue because of more user purchase capabilities and engagement.

How can I check if developers and their apps are trustable?

AppCoins allows any user or app store to check the blockchain for the current reputation status of the developer. This is based on the success of past transactions within the platform. If it’s a new developer on the system, it initially joins with an unknown state. After some time, as this developer conduct transactions, more information is gathered. Then, the system can automatically move his record to the Trusted or Warning/Critical state in the blockchain based on its score.

How can I distribute and monetize my app in different app stores?

Developers don´t need to create different versions of their app to support IAP for different app stores. AppCoins provides a standard interface for developers to receive payments in any app store. Top developers now have a reason to trust any app store adopting the protocol. All AppCoins-based payments will be immediate and transparent, so the risk of distributing to different app stores is minimum.

What do OEMs gain in being part of AppCoins?

With AppCoins, OEMs have a transparent blockchain based solution that ensures their 5% share revenue of all advertising and in-app purchase transactions occurred in their devices, when they pre-load a AppCoins based app store.

As an OEM/Developer, are the app stores withholding my revenue? How many days I have to wait?

The app store does not hold AppCoins financial transactions. The AppCoins are transferred directly to the OEM/Developer’s wallet, so the option to withdraw the money straightway is available.

I confirm that I have read and understand the Crowdsale document and White Paper (“Pre-sale
Documents”) published by Aptoide Pte Ltd (UEN 201530350D), a Singapore-incorporated company
with its registered address at 30 Cecil St, #19-08, Prudential Tower, Singapore 049712, and that I
expressly accept all terms, conditions, obligations, affirmations, representations and warranties
described in these documents as well as in the following disclaimers.

The Appcoins are not securities or units in a collective investment scheme or business trust, each as
defined under Singapore’s Securities and Futures Act (Cap. 289) (“SFA”). Accordingly, the SFA does
not apply to the offer and sale of the Appcoins. For the avoidance of doubt, this initial offering of
Appcoins need not be accompanied by any prospectus or profile statement and no prospectus or
profile statement needs to be lodged with the Monetary Authority of Singapore (“MAS”).

This Pre-sale does not constitute an offer of, or an invitation to purchase, the Appcoins in any
jurisdiction in which such offer or sale would be unlawful. No regulatory authority in Singapore,
including the MAS, has reviewed or approved or disapproved of the Appcoins or Pre-sale Documents.
The Pre-sale Documents and any part thereof may not be distributed or otherwise disseminated in
any jurisdiction where offering tokens in the manner as under this Pre-sale is regulated or prohibited.

The information in these Pre-sale Documents is current only as of the date of this Pre-sale. For any
time after this date, the information, including information concerning Aptoide’s business operations
and financial condition, may have changed. Neither this Pre-sale nor any Pre-sale Documents, under
any circumstances, constitute a representation that no such changes have occurred. Aptoide does not
make or purport to make, and hereby disclaims, any representation, warranty, undertaking, or other
assurance in any form whatsoever to any person, including any representations, warranties,
undertakings, or other assurances in relation to the truth, accuracy, or completeness of any part of the
information forming part of this Pre-sale or Pre-sale Documents.

Appcoins are intended for use within applications available on the Aptoide App Store for purposes
including purchasing in-application items and serving as a medium of in-application advertising
revenue, and Aptoide warrants that the Appcoins are fit for these purposes. However, Aptoide is not
responsible for compelling any person to accept Appcoins and disclaims, to the fullest extent
permitted by law, all liability for any adverse consequences arising out of or in relation to such
rejections of Appcoins.

Upon purchasing any Appcoins, you will be deemed to have reviewed the Pre-sale Documents (and
any additional information you request and obtain from Aptoide in relation to the Appcoins or Pre-sale)
in full and to have agreed to the terms of this Pre-sale, including to the fact that this Pre-sale does not
fall within the scope of any securities laws in Singapore and is not regulated by the MAS. You further
acknowledge and agree that the Appcoins are not securities and are not meant to generate any form
of investment return.

The Appcoins and related services provided by Aptoide (if any) are provided on an “as is” and “as
available” basis. Aptoide does not grant any warranties or make any representation, express or
implied or otherwise, as to the accessibility, quality, suitability, accuracy, adequacy, or completeness
of the Appcoins or any related services provided by Aptoide, and expressly disclaims any liability for
errors, delays, or omissions in, or for any action taken in reliance on, the Appcoins and related
services provided by Aptoide. No warranty, including the warranties of non-infringement of third party
rights, title, merchantability, satisfactory quality, or fitness for a particular purpose, is given in
conjunction with the Appcoins and any related services provided by Aptoide.

Regulatory risks

The regulation of tokens such as the Appcoins is still in a very nascent stage of development in
Singapore. A high degree of uncertainty as to how tokens and token-related activities are to be
treated exists. The applicable legal and regulatory framework may change subsequent to the date of
the Pre-Sale. Such change may be very rapid and it is not possible to anticipate with any degree of
certainty the nature of such regulatory evolution. Aptoide does not in any way represent that theregulatory status of the Appcoins will remain unaffected by any regulatory changes that arise at any
point in time before, during, and after this Pre-sale.

No regulatory supervision

None of Aptoide or its affiliates is currently regulated or subject to the supervision of any regulatory
body in Singapore. In particular, Aptoide and its affiliates are not registered with MAS in Singapore as
any type of regulated financial institution or financial advisor and are not subject to the standards
imposed upon such persons under the Securities and Futures Act, Financial Advisors Act, and other
related regulatory instruments. Such persons are required to comply with a variety of requirements
and standards concerning disclosures, reporting, compliance, and conduct of their operations for
purposes or maximising investor protections. Since Aptoide is not subject to such requirements or
standards, it will make decisions on those issues at its own discretion. While Aptoide will have regard
to best practices on these issues, holders of Appcoins may not necessarily enjoy the same extent and
degree of investor protections as would be the case should they invest with regulated entities instead.

No fiduciary duties owed

As Aptoide is not a regulated financial institution, it does not owe investors in Appcoins any fiduciary
duties. This means that Aptoide has no legal obligation to always act in good faith in the best interests
of holders of Appcoins. While Aptoide will have regard to the interests of holders of Appcoins, it is also
permitted to consider the interests of other key stakeholders and to prefer these interests over the
interests of Appcoins holders. This may mean that Aptoide is permitted to make decisions that conflict
with the interests of Appcoins holders. Not owing any fiduciary duties to holders of Appcoins also
means that holders of Appcoins may have limited rights of recourse against Aptoide and its affiliates
in the event of disputes.

Tax risks

The tax characterization of Appcoins is unclear. Accordingly, the tax treatment to which they will be
subject is uncertain. All persons who wish to purchase Appcoins should seek independent tax advice
prior to deciding whether to purchase any Appcoins. Aptoide does not make any representation as to
whether any tax consequences may arise from purchasing or holding Appcoins.

Risks from third parties

The tokenised nature of Appcoins means that they are a blockchain-based asset. The security,
transferability, storage, and accessibility of blockchain assets depends on factors outside of Aptoide’s
control, such as the security, stability, and suitability of the underlying blockchain (in this case, the
Ethereum blockchain), mining attacks, and who has access to the private key of a wallet where
Appcoins are stored. Aptoide is unable to assure that it can prevent such external factors from having
any direct or indirect adverse impact on any of the Appcoins. Persons intending to purchase Appcoins
should note that adverse events caused by such external factors may results in the loss of some or all
Appcoins purchased. Such loss may be irreversible. Aptoide is not responsible for taking steps to
retrieve Appcoins lost in this manner.

Risks in purchasing Appcoins

Aptoide cannot and does not guarantee or otherwise assure that there are no risks in relation to your
purchase of Appcoins. The purchase of Appcoins may, depending on the manner in which the
relevant purchase is effected, involve third parties or external platforms (e.g., wallets). The
involvement of such parties or platforms may introduce risks that would not otherwise be present,
such as misconduct or fraud by the third party, or your failure to receive Appcoins upon duly making
payment because of a third-party wallet’s incompatibility with Appcoins. Aptoide is not responsible for
any risks arising due to the involvement of third parties, including the risk of not receiving (or
subsequently losing) any or all Appcoins you attempt to (or successfully) purchase.